Why Sarepta Therapeutics, Ralph Lauren, Fifth Third Bancorp, and Two Other Stocks Are in Spotlight on Friday

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Fifth Third Bancorp (NASDAQ:FITB) shares are 0.8% in the red after Ken Usdin, analyst at Jefferies, downgraded the bank to ‘Hold’ from ‘Buy’, citing valuation as the primary reason for his ratings change. Shares of Fifth Third have rallied to $20.57 from $16 a share in June when people were still concerned about the Brexit. Jefferies has a price target of $22 per share, up from its previous $19.50. The number of funds tracked by us with holdings in Fifth Third Bancorp (NASDAQ:FITB) rose by seven quarter-over-quarter to 27 at the end of June.

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Virgin America Inc (NASDAQ:VA) and Alaska Air Group, Inc. (NYSE:ALK) are in the spotlight after CTFN reported that Alaska Air Group is working on a package of potential remedies to address the Department of Justice’s concerns over the company’s pending purchase of Virgin America. If the merger goes through, the two companies could realize substantial synergies. In other news, traders are watching both stocks after the CEO of Delta Air Lines, Inc. (NYSE:DAL) said: “We had the strongest summer in our history”. That presumably is good news for the whole industry and not just Delta.  Of the around 749 funds that we track, 25 were long Virgin America Inc (NASDAQ:VA) and 42 held shares of Alaska Air Group, Inc. (NYSE:ALK) at the end of the second quarter.

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Disclosure: None

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